President Nana Addo Dankwa Akufo-Addo has called on investors and business leaders in Spain to participate in the exceptional investment opportunities in Ghana. Ghana, with its stable security and political environment, coupled with a sound legal and regulatory environment, and a stable domestic market and macro-economic stability, he noted, had the best investment climate in …
Month: March 2021
The Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 14.5 percent for the second consecutive meeting this year, citing short-term risk emanating from rising crude oil prices and revenues measures in the 2021 budget. At the release of its decision, the Governor of the Bank of Ghana and Chairman …
Managing Director of the Agricultural Development Bank, Dr. John Kofi Mensah, has said that reforms introduced by the regulator in the past few years have strengthened the banking sector; hence, the industry can absorb the 5 percent levy recently introduced by government. Government has said it spent some GH¢21billion on the financial sector clean-up exercise, …
The local currency has appreciated marginally by some 0.6% against the US dollars since the beginning of 2021. This is according to the latest figures released from the Bank of Ghana (BOG) summary of Economic and Financial data. The appreciation meant the cedi witnessed a 0.2 percentage points increase from that of February 2021 against …
The World Bank has projected that Ghana’s fiscal path will result in continued debt accumulation, with public debt reaching 81.1 percent of GDP in 2023 before starting to decline. The bank, in its 5th Ghana Economic Update, said this is mainly driven by a continuous need for government support to the economy, high levels of …
The latest data emanating from the Ghana Investment Promotion Centre reveals that the country attracted US$2,650.97 million worth of foreign direct investment in 2020, which translates to an increase of 139.06 percent over the US$1,108.93 million recorded in 2019 . Although not quite as high as the nearly US$5 billion achieved in 2017, Ghana’s performance …
The 2021 budget, themed “Completion, Consolidation, and Continuation” and presented by the interim Finance Minister Osei Kyei-Mensah-Bonsu to the House of Parliament revealed a list of new tax policies and revisions of existing ones which will impact the finances of individuals and businesses. Stemming from the unprecedented rise of the coronavirus pandemic and its associated …
The central bank says it has revised the sanctioning regime in respect of the issuance of dud cheques for strict compliance by banks and specialised deposit-taking institutions (SDIs). According to the Bank of Ghana (BoG), it has observed with grave concern, the high issuance of dud cheques by some customers of banks and SDIs has …
The Bank of Ghana (BoG) has reminded banks, Specialised Deposit-Taking Institutions (SDIs) and the public that under section 313(A) of the Criminal Offences Act, 1960 (Act 29) as amended, it is an offence punishable by a fine and/or imprisonment of up to five (5) years for any person to issue a dud cheque1. The central …
The year-on-year inflation rate rises to 10.3 percent in February 2021 compared to 9.9 percent, the previous month, the Ghana Statistical Service said on Wednesday. The rate is 0.4 percentage point higher than the rate for January. The month-on-month inflation between January and February was 0.8 percent. Professor Samuel Annim, the Government Statistician, said the …